Juned Patel

Dollar wavering as global inflation surges; kiwi jumps

By Tom Westbrook SINGAPORE (Reuters) – The dollar made a wobbly start to the week on Monday with the kiwi and sterling edging higher after a red-hot inflation readout in New Zealand and hawkish remarks from Britain’s central bank chief that put rate rises in investors’ sights. The dollar index has now slipped about 0.6% from last week’s 2021 …

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Hong Kong Exchange Fund posts Q3 investment loss of $1.70 billion -HKMA

HONG KONG (Reuters) -Hong Kong’s Exchange Fund, which backs the local dollar, posted a third-quarter investment loss of HK$13.2 billion ($1.70 billion), its first after five consecutive quarters of gains, the Hong Kong Monetary Authority said on Monday. That compared with an HK$81.2 billion investment gain in the same period a year earlier. The Exchange …

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Dollar Up, China’s Economic Growth Slows Down While New Zealand Inflation Picks Up

The dollar was up on Monday morning in Asia. Inflation data from New Zealand was higher than expected while data from China showed slower-than-expected economic growth. Hawkish comments from the Bank of England (BOE) governor also placed the possibility of interest rate hikes on investors’ radars. The U.S. Dollar Index that tracks the greenback against a basket …

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U.S. Coast Guard boards ship in connection with California oil spill

The U.S. Coast Guard boarded a container ship on Saturday in the Port of Long Beach that dragged its anchor close to a subsea pipeline found to be the source of an oil spill off Orange County, California, it said in a press release. The spill released some 3,000 barrels (126,000 gallons) of crude oil into the …

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Oil Up, Climb to Highest Level in Years Over Continuing Global Energy Crunch

Oil was up Monday morning in Asia, hitting its highest level in years. Increasing fuel demand, and power generators’ switch from expensive gas and coal to fuel oil and diesel, all gave the black liquid a big boost. Brent oil futures rose 1.07% to $85.77 by 10:58 PM ET (2:58 AM GMT) the highest price since …

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Gold Down, but Caps Losses as U.S. Bond Yields Ease

Gold was down on Monday morning in Asia, recouping some losses after a steep sell-off during the previous session as U.S. bond yields eased. Gold futures inched down 0.03% to $1,767.75 by 11:49 PM ET (3:49 AM GMT), clawing back losses after sliding 1.6% on Friday. The benchmark U.S. 10-year Treasury yields eased after rising to a high …

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Japan will prioritize simplicity in CBDC design, says central bank executive

While Japan’s CBDC plans are still in the research stage, Shinichi Uchida, an executive of the Bank of Japan (BOJ), has said simplicity will drive the central bank’s design thesis for the digital yen. According to Reuters, Uchida made this known during a speech delivered on Friday calling for modalities to be put in place …

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bitFlyer Registers As Type 1 Financial Instruments Business

bitFlyer released a “Notice of Registration as a Type 1 Financial Instrument Business. It comes under the Financial Instruments and Exchange Act as of October 14th, 2021. bitFlyer aims to reopen new registrations for margin trading services for crypto assets. bitFlyer Inc. recently announced that it is now registered as a Type 1 Financial Instrument …

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Italy’s business lobby sees stronger economic growth, GDP up 6.1% in 2021

Italy’s business lobby Confindustria said on Saturday the country’s growth this year would be more robust than expected, mainly due to a more contained impact of the COVID-19 Delta variant and stronger-than-expected economic indicators. In a report, the association’s research unit CSC forecast gross domestic product (GDP) would rise 6.1% this year and 4.1% next …

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Regional bank loan growth could hint at healthier supply chains

By David Randall NEW YORK (Reuters) – If regional banks show signs of accelerating loan growth when they report earnings in the week ahead, it could signal an easing of the supply chain bottlenecks that have weighed down the U.S. economic recovery from the pandemic, analysts and investors said. Overall, small banks accounted for 63% …

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